If a new company is setup by an accountant and it costs $2000 incl ASIC fee, is the entire amount able to be deducted immediately under the new start up rules since 1st July 2015? I feel like the information provided by the ATO (https://www.ato.gov.au/businesses-and-organisations/income-deductions-and-concessions/depreciation-and-capital-expenses-and-allowances/other-capital-asset-and-expense-deductions) about what can be claimed is a bit wishy washy. I can see the ASIC fee can be claimed asap but what about the remainder of the company setup fee? Is the remainder considered accounting advice? Or is the remainder claimed over 5 years?
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4,548 views
1 replies